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Oversupply 'impacting Brisbane housing market'

The Brisbane region's housing market is being impacted by issues such as an oversupply of properties, new research has suggested.

 

 

According to the latest Quarterly Residential Report for Brisbane published by Propell National Valuers, the March quarter of 2011 saw a median house price of $430,000 (£280,500) in this area of Australia.

 

 

This marked a decrease of 1.1 per cent when compared to the December 2010 period.

 

 

Assessing the present situation facing Australian homes in Brisbane, the report noted: "Brisbane's market is continuing to be affected by oversupply, a lack of buyer expectation for capital growth, tighter financial constraints and general economic uncertainty."

 

 

This uncertainty stems from "both state and national" sources, the document also highlighted.

 

 

Meanwhile, the Propell National Valuers March 2011 report relating to the Adelaide region of Australia showed that a median house price of $385,000 was witnessed there during the period of the year in question.

 

 

Posted by Ravin Chatlani

- supply, land, prices, Brisbane, property

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